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Sensex, Nifty jump over 1% on heavy buying in banking stocks – Times of India



MUMBAI: Equity benchmarks sensex and Nifty rallied over 1 per cent on Friday due to heavy buying in banking and financial counters amid mixed trend in the global markets.
The 30-share BSE benchmark sensex zoomed 909.64 points or 1.52 per cent to settle at 60,841.88. During the day, it jumped 973.1 points or 1.62 per cent to 60,905.34.
The broader NSE Nifty advanced 243.65 points or 1.38 per cent to end at 17,854.05.
“Markets are rising, assuming that we are in the last phase of the rate hike cycle as indicated by the Fed statement,” said Vinod Nair, Head of Research at Geojit Financial Services.
Some Adani Group stocks revived post the confident statement by TotalEnergies, a French energy company, raising the sentiment of the market, Nair added.
From the sensex pack, Titan, Bajaj Finserv, Bajaj Finance, HDFC Bank, HDFC, State Bank of India, Mahindra & Mahindra and IndusInd Bank were among the major winners.
HCL Technologies, Wipro and Tech Mahindra were among the laggards.
In the broader market, the BSE smallcap gauge declined 0.47 per cent and midcap index dipped 0.04 per cent.
Among sectoral indices, consumer durables climbed 2.61 per cent, financial services rallied 2.15 per cent, bankex jumped 2.02 per cent, services advanced 1.64 per cent and consumer discretionary gained 0.85 per cent.
Utilities fell 2.79 per cent, power declined 2.24 per cent, oil & gas (0.88 per cent) and realty (0.53 per cent).
Elsewhere in Asia, equity markets in Seoul and Tokyo ended in the green, while Shanghai and Hong Kong settled lower.
Equities in Europe were trading mostly lower during mid-session deals. Markets in the US ended mostly in the positive territory on Thursday.
International oil benchmark Brent crude climbed 0.44 per cent to $82.52 per barrel.
Foreign Institutional Investors (FIIs) again offloaded shares on Thursday after a day’s breather. They sold shares worth Rs 3,065.35 crore, according to exchange data.





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